Search
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5

  • By submitting this article to a friend we reserve the right to contact them regarding AMM subscriptions. Please ensure you have their consent before giving us their details.


Brazil to pursue exclusion from 232 tariffs

Mar 02, 2018 | 10:40 AM |

Tags  Brazil, aluminium, steel, tariffs, Section 232, US, MDIC


SÃO PAULO — Brazil will look for ways to avoid being included in any measures related to the US Section 232 investigations into steel and aluminum imports.

“The Brazilian government is deeply concerned about the information released ... that the United States intends to impose an additional tariff of 25% on steel imports and 10% on aluminium imports as a result of the investigation based on Section 232,” foreign trade ministry MDIC said in a note on Thursday March 1.

“If confirmed, the trade restriction will affect Brazilian exports from both [steel and aluminium] sectors,” the ministry added.

During a meeting with steel and aluminium executives Thursday, US President Donald Trump confirmed that he will sign the tariffs into order sometime next week and keep them in place for a "long" period of time.

But Brazil expects to constructively work with the US to avoid the possible application of import tariffs, which would bring significant losses to metals producers and consumers in both countries, MDIC minister Marcos Jorge told US Commerce Secretary Wilbur Ross during a recent meeting in Washington.

“The Brazilian government does not rule out possible complementary actions, in the multilateral and bilateral scope, to preserve its interests in this case,” MDIC said.

Jorge, along with executives from Brazilian steel companies and members of the Brazilian steel institute, Aço Brasil, met members of the US Congress, White House officials and participants of the US steel and coal industries earlier this week to reiterate that Brazil-origin steel does not threaten the US security.

The steel production structures of both countries are complementary, since about 80% of Brazilian steel exports are of semifinished products, an important input for the US steel industry, according to MDIC.

At the same time, Brazil is also the largest importer of US steel coal - totaling about $1 billion in 2017 - which is a relevant input for Brazilian steel production, the ministry added.

Ana Paula Camargo
acamargo@metalbulletin.com



 

Latest Pricing Trends Year Over Year

Poll

How will US hot-rolled coil prices fare over the summer?

Rise sharply
Rise modestly
Stay largely flat
Fall modestly
Fall sharply


View previous results